Major US footwear DTC brands grew 33% in Q3 to $62.7 million!

According to the latest news, Allbirds, a major American direct-to-consumer footwear brand, said on Tuesday that its third-quarter revenue increased by 33% over last year , but its losses widened , mainly due to the pressure on its performance from store opening and listing costs .

It is reported that the net loss widened to $13.8 million, or 25 cents per share , in the three months ended September 30, from a loss of $7 million, or 13 cents per share , a year ago .

Allbirds ' sales grew 33 % to $62.7 million from $47.2 million a year ago . The company said its revenue has grown 40% in two years . Co-founder and CEO Joey Zwillinger said the company saw growth opportunities in its U.S. stores and that consumers were evaluating it highly.

The picture comes from Allbirds official website

It is understood that Allbirds has been expanding its product categories and is no longer limited to wool sneakers. The shoes currently sold include running sneakers, cross-country shoes and high-top shoes. In addition, the company also stated that it will continue to add more clothing products to attract more buyers.

Allbirds is also investing in stores , but its business has been primarily online since its founding. In 2020 , approximately 89% of the brand's revenue came from online .

The company now has 31 retail locations at the end of the third quarter , including those outside the U.S. Allbirds has previously said its physical stores make up a small portion of its business .

Allbirds' selling, general and administrative expenses amounted to $ 33 million, or 52.6% of revenue , compared with 42.5% of revenue in the same period of 2020. For fiscal 2021, Allbirds said net revenue should increase 23% to 24% from the same period last year, to $270 million to $272 million.

Last month, the brand was also reported to have suffered heavy losses. After going public, it seems that it is not as smooth as expected. There are many DTC brands abroad , but Allbirds stands out among them. It took only three years for it to become a "unicorn" enterprise from an Internet celebrity brand, which attracted everyone's attention. However, after the company goes public, how to move forward in the future and how to move more steadily are important issues for it to consider next.

Allbirds

Q3